Overview

This Variance Analysis Excel Template offers a simple yet useful example for conducting variance analysis.

Variance analysis is an analysis of all differences between the actual and budgeted figures (mostly financial numbers) of a company. It is often used to evaluate whether a company is over-performing or under-performing the budget during its reporting period. There are various types of variance including:
  • Price variance: the difference between the actual and standard (planned) prices
  • Quantity variance: the difference between the actual amount of input used and the planned amount of input
  • Budgeting variance: the difference between actual and budgeted amounts of fixed overhead cost
  • Volume variance: the difference between the amount of fixed overhead cost applied and budgeted fixed overhead costs
Using the column method, a company can calculate and sum up all the variances to determine whether they are favorable or unfavorable variances. variance-analysis-template-excel-image Screenshot of the template.   Use this free Excel template to perform your own variance analysis and hit your budget for cost and revenue!

This business tool includes 1 Excel Template

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